Thrive Wealth Management LLC Increases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Thrive Wealth Management LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 48.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 772 shares of the retailer’s stock after purchasing an additional 253 shares during the period. Thrive Wealth Management LLC’s holdings in Costco Wholesale were worth $685,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in COST. Wulff Hansen & CO. boosted its stake in Costco Wholesale by 99,208.6% during the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after buying an additional 1,473,248 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Costco Wholesale during the 1st quarter valued at about $510,353,000. Assenagon Asset Management S.A. grew its holdings in shares of Costco Wholesale by 287.3% during the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Costco Wholesale by 51,747.5% in the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Costco Wholesale by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock valued at $26,640,940,000 after purchasing an additional 485,051 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,174 shares of company stock worth $7,097,624. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.8 %

Shares of NASDAQ COST traded up $7.44 during midday trading on Friday, hitting $883.11. 1,516,460 shares of the company traded hands, compared to its average volume of 1,961,015. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The firm has a market cap of $391.51 billion, a P/E ratio of 54.72, a P/E/G ratio of 5.38 and a beta of 0.80. The stock has a 50-day moving average price of $875.41 and a 200 day moving average price of $821.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.30% and a net margin of 2.90%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.86 EPS. As a group, analysts expect that Costco Wholesale Co. will post 17.74 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Analysts Set New Price Targets

COST has been the topic of a number of research analyst reports. Evercore ISI increased their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Robert W. Baird raised their price target on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research report on Tuesday, September 24th. Oppenheimer boosted their target price on Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Finally, Melius Research began coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $883.04.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.